Royal Bank of Canada Lowers Stock Holdings in DigitalBridge Group, Inc. $DBRG

Royal Bank of Canada reduced its position in DigitalBridge Group, Inc. (NYSE:DBRG) by 60.5% in the 1st quarter, HoldingsChannel.com reports. The fund owned 89,058 shares of the company’s stock after selling 136,460 shares during the quarter. Royal Bank of Canada’s holdings in DigitalBridge Group were worth $1,374,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Steward Partners Investment Advisory LLC boosted its stake in shares of DigitalBridge Group by 305.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,760 shares of the company’s stock valued at $27,000 after purchasing an additional 1,326 shares during the period. Parallel Advisors LLC lifted its holdings in DigitalBridge Group by 70.4% during the 1st quarter. Parallel Advisors LLC now owns 1,891 shares of the company’s stock worth $29,000 after buying an additional 781 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new position in DigitalBridge Group in the 4th quarter valued at approximately $31,000. Beaird Harris Wealth Management LLC acquired a new position in shares of DigitalBridge Group in the fourth quarter worth $31,000. Finally, Quarry LP grew its stake in shares of DigitalBridge Group by 1,467.2% in the fourth quarter. Quarry LP now owns 2,053 shares of the company’s stock worth $31,000 after acquiring an additional 1,922 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

DigitalBridge Group Stock Performance

Shares of DigitalBridge Group stock opened at $15.93 on Thursday. DigitalBridge Group, Inc. has a one year low of $8.94 and a one year high of $15.97. The company has a market cap of $2.99 billion, a PE ratio of 10.34 and a beta of 1.47. The business has a 50-day simple moving average of $15.81 and a 200-day simple moving average of $15.62.

DigitalBridge Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a $0.01 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $0.04 dividend on an annualized basis and a yield of 0.3%. DigitalBridge Group’s payout ratio is currently 2.60%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded DigitalBridge Group from a “hold (c)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $16.00.

DigitalBridge Group Profile

DigitalBridge Group, Inc (NYSE: DBRG) is a specialized global investment firm focused exclusively on digital infrastructure. The company originates, acquires, and manages a diversified portfolio of businesses that support the digital economy, including data centers, cell towers, small cells, fiber networks, edge infrastructure and related services. DigitalBridge seeks to generate sustainable, long-term returns for its investors by deploying capital into high-growth sectors driven by increasing data consumption, 5G deployment and cloud adoption.

Through its dedicated investment platforms, DigitalBridge provides equity and debt financing solutions to operators and owners of digital infrastructure assets.